Financial Services Representative
Salary

Financial Services Representatives in the United States take home an average $14.93 per hour. Overall cash earnings of Financial Services Representatives stretch from $25K near the bottom to $47K on the more lucrative end; these packages can sometimes encompass potential bonuses and profit sharing of almost $5K each, along with commissions approaching $13K in rare cases. Earnings for this group are mostly affected by the specific employer, followed by geography and experience level. Most workers in this position report high levels of job satisfaction. Women Financial Services Representatives who took the survey just slightly outnumber men. Most report receiving medical coverage from their employers and a strong majority collect dental insurance. Respondents to the PayScale salary survey provided the data for this report.

XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).

XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).

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Job Description for Financial Services Representative

A financial services representative works for a bank or other financial establishment to assist customers with a variety of the investments. They may also serve as the point person for handling regular loan applications for home mortgages, which includes providing information to customers on the application process. The financial services representative must be familiar with - and able to speak to customers about - a variety of investment strategies to suit the varying needs of the bank’s customers. The representative must be able to gather information from clients such as age, time until retirement, family size, and income to help the client determine appropriate investment options. The representative also looks at the client’s current investments and debts, and they may also be expected to make recommendations related to reducing payments or interest. Many banks also sell investment insurance and life-event insurance. The financial services representative presents these products to clients and customers as well.

The educational requirements for this position vary by institution. Some establishments allow practical banking and demonstrated financial product knowledge to supersede formal education, but many banks prefer individuals with at least a bachelor's degree in business, finance, or a related discipline. A financial services representative typically works in an office environment during regular business hours.

Financial Service Representative (FSR) Job Listings

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Popular Employer Salaries for Financial Services Representative

TD Bank, N.A., State Employees Credit Union - North Carolina, Fidelity Investments, State Employees' Credit Union, and Bank of The West are all popular places to work. The biggest paychecks can be found at Fidelity Investments — the median salary there is $44K; however, employees are subject to a wide range in pay, with the lowest salaries sitting near $32K and highest ones in the neighborhood of $57K.

Bringing up the rear, State Employees Credit Union - North Carolina's median pay of $28K is the lowest in town; however, employee salaries widely range, with some making up to $33K.

This chart shows the most popular skills for this job and what effect each skill has on pay.

Just a handful of professional skills are reported by Financial Services Representatives who took the survey. Most notably, skills in Insurance, Sales, Customer Service, and Cash Handling are correlated to pay that is above average. Skills that are correlated to lower pay, on the other hand, include Cash Handling. Customer Service and Sales are also commonly seen together.

Pay by Experience Level for Financial Services Representative

Median of all compensation (including tips, bonus, and overtime) by years of experience.

Experience does not seem to be a strong driver of pay increase in this role. People who have worked for fewer than five years bring home $33K on average. Median compensation in the five-to-10 year group, however, is higher at approximately $36K. People with 10 to 20 years of experience make an average of about $39K in this role. Financial Services Representatives with more than 20 years of experience report incomes that are only modestly higher; the median for these old hands hovers around $41K.